Executive Summary

On October 15, 2019, the Coresight Research team was at the Global Tech Advocates Summit in Shanghai. Set to be an annual occurrence, the summit aims to promote and encourage collaboration in the tech industry.

The inaugural event focused on the proliferation of automation technologies, as well as the importance of innovation and collaboration:

• The adoption of artificial intelligence (AI) and machine learning capabilities are causing job losses as business activities are automated. However, panelists suggested that future workforces can adapt to this changing landscape through emerging opportunities in new roles with different skill requirements.
• Alibaba, Baidu and Tencent are leveraging AI technology to transform traditional industries.
• Beijing supports technology development, particularly in certain industries, so there are opportunities for British and other foreign tech companies to penetrate the market. However, success hinges on understanding China’s culture and working with local partners.
• Technology and innovation have the potential to drive growth for companies globally, but collaboration will be key—even for large companies.